Cramer Quick Take: Skip Barnes & Noble

NEW YORK (TheStreet) -- Should investors curl up by the fire with a few shares of Barnes & Noble (BKS) now that the company's founder is looking to take at least part of the company private? Jim Cramer told Debra Borchardt at TheStreet.com Monday he's not a buyer of the news.

Cramer said despite a lot of interest in taking companies private, ala Best Buy (BBY) and Dell (DELL) , he still cannot recommend a stock on a takeover alone when the fundamentals are in decline.

While Barnes & Noble's college business remains strong, he said, the company's brick and mortar stores are still feeling the heat from Amazon.com (AMZN) , and the Nook tablet products aren't competing well with Amazon's Kindle and other tablets.